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Category: Tax Audit Help

Understanding Canada’s Underused Housing Tax

Understanding Canada’s Underused Housing Tax

Owning a home in Canada has always carried financial responsibilities: mortgages, upkeep, insurance, etc., but lately, it also carries new obligations that many people never saw coming. Housing has become a lightning rod for policy, economics, and politics, and tax...
Common Misconceptions About Tax Audits

Common Misconceptions About Tax Audits

The words “tax audit” often evoke a sense of fear and uncertainty among taxpayers, leading to a myriad of misconceptions and myths about the process. In Canada, the tax audit system is designed to ensure compliance and fairness in the tax system, yet many...
CRA Audit Triggers: What Triggers a CRA Audit?

CRA Audit Triggers: What Triggers a CRA Audit?

According to the CRA’s web pages on audits (there’s one for individuals and one for businesses), “The CRA’s risk-assessment systems identify tax returns that are considered to be at high risk for non-compliance.” In other words, the likelihood of tax reporting...
NET WORTH AUDIT

NET WORTH AUDIT

Almost all Canadian resident taxpayers and, in some circumstances, non-resident taxpayers, have to file various returns with the Canada Revenue Agency.  If a taxpayer fails to file a tax return when and as required, the Canada Revenue Agency (CRA) can either make a...
pro-tip

Pro Tip

ACCESSING THE SMALL BUSINESS DEDUCTION IN YOUR BUSINESS

The Small Business Deduction gives businesses a tax deduction on the first $500,000 of income. This saves an eligible corporation around up to $50,000 in income taxes. There are a number of conditions that have to be met to be eligible for this deduction.

Had a great experience with Sam Faris and his team. Sam took over my file from the previous accountant and was able to fix significant mistakes in the books which ended up saving me taxes and get me a refund for money that I already paid to the government. They have performed the work on timely basis with the least cost possible. Anyone who is in search for the best tax consultant in the country, Sam Faris is the man. Thank you Sam and his team for all the amazing work.
Faris is an outstanding accountant. A professional at the highest level that comprehends the intrinsic power and beauty of numbers. Serving the appropriate value to each person or company, longing for his personal imagination and process in action keeping financial accounts. He's highly recommended in knowing the magical reality of numbers.
Faris CPA was awesome! I cannot express how grateful I was during my tax audit.

Super kind and approachable- they took the time to explain the entire process. They answered all my questions/concerns and made sure I understood everything.

They made sure nothing was overlooked and would keep in touch with me should they need any docs as well as asked me questions to ensure accuracy.

I really appreciated their dedication and expertise! For anything tax-related, I truly recommend Faris CPA.
Response from the owner:Thank you Donald for your five stars review. We will remain at your disposal if you need our services in the future.
Great experience dealing with Sam Faris and his team. They were transparent, patient with their explanations and they meet all promises. Highly reliable and trustworthy firm. They promise and they meet all their promises. If you are looking for the best tax consultant firm, I highly recommend Faris CPA.
Response from the owner:Many thanks and much appreciated for the kind and positive review.